Virginia No Cost Solar Program

In fact on average a purchased home solar system generates.

Virginia no cost solar program. Virginia currently lacks any sort of statewide solar rebate program. But in the last five years the cost of solar panels has dropped by 80 making home solar much more affordable. Virginiasaves green community program potential applicants. As of september 2020 the average solar panel cost in virginia is 2 89 w given a solar panel system size of 5 kilowatts kw an average solar installation in virginia ranges in cost from 12 282 to 16 618 with the average gross price for solar in virginia coming in at 14 450 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the.

The benefits of going solar in virginia federal solar energy tax credit itc without a doubt the federal solar tax credit also referred to as the investment tax credit is one of the best incentives available for property owners in virginia with the itc you can deduct 26 percent of the cost of your solar equipment from your taxes that means major savings on your solar installation. Now in virginia the average home can get solar installed for 20 000 or less. Local government non profit organizations businesses and industry the virginiasaves green community program is a unique public private partnership sponsored by virginia s department of mines minerals and energy dmme to provide subsidized financing for energy. If a homeowner decides to buy a system they not only save on energy costs as soon as the system is operational but they also begin to generate profits from the excess energy their system produces and can take advantage of tax credits and grants.

Dominion energy virginia s most recent long term plan forecasts the potential for at least 15 900 megawatts of solar in the state over the next 15 years to meet customers energy needs. Plus they can sell their srecs solar renewable energy credits to earn even more income. In the ppa s case the exchange for no cost solar panels is that you do have to agree to purchase power generated by those panels from your solar company at a reduced rate anywhere from a 10 30 reduction. Dominion energy has announced plans to develop multiple utility scale solar projects in virginia through 2020.

That s a darn shame. In virginia there s no government program to install solar panels without cost. Consumers have different financial options to select from when deciding to go solar. Virginia incentives for energy efficiency and energy conservation.

Due to the steep upfront costs of around 32 000 in cash only those upper income families can afford to install solar arrays. However no cost and free are a little misleading because there is always an exchange for goods and services rendered. If you prefer to buy your solar energy system solar loans can lower the up front costs of the system.